Merrill Lynch plans to price 8% STEP Income Securities linked to First Solar for Svensk

By Angela McDaniels

Tacoma, Wash., Jan. 5 - AB Svensk Exportkredit plans to price 53-week 8% STEP Income Securities linked to the common stock of First Solar, Inc. via Merrill Lynch, Pierce, Fenner & Smith Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

If the stock finishes at or above the step level - 108% of the initial price - the payout at maturity will be par of $10 plus a step payment of 1% to 5%. The exact step payment will be set at pricing.

If the stock finishes at or above the threshold level - 95% of the initial price - but below the step level, the payout will be par.

Investors will lose 1% for every 1% that the final share price falls below the threshold level.

The notes are expected to price in January or February.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.